President Donald Trump backed the Commodity Futures Trading Commission’s exclusive authority over prediction markets on Tuesday, while also declaring the U.S. as the world’s Bitcoin.

Trump said via his Truth Social that prediction platforms will “thrive” under the CFTC’s exclusive jurisdiction and that states should be prohibited from creating separate rules for this industry.

“Under my leadership, we are setting ‘rules of the road’ that are the Gold Standard for the States,” Trump said. “Other Countries are after this new form of Financial Market, and we want to remain at the top.”

Trump also reiterated that the U.S. is the “Crypto Capital of the World” and his administration won’t let other nations threaten America’s leadership.

“It is a major industry, and we must protect it,” he said, referring to the cryptocurrency market in particular.

Trump’s tweet comes in response to recent developments where states, such as Minnesota, are challenging the CFTC’s authority. Minnesota Governor Tim Walz recently signed a law criminalizing prediction markets, which the Trump administration swiftly sued, setting up a potential federal showdown.